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UltraTech Cement to raise Rs 300 cr via pvt placement

Press Trust of India  |  New Delhi 

today said it plans to raise Rs 300 crore through private placement of Non-Convertible Debentures (NCDs)

"The company is proposing to issue Secured Redeemable NCDs amounting to Rs 300 crore on private placement basis," the flagship firm of the said in a regulatory filing.

The securities, proposed to be listed on NSE, will have a tenure of 5 years and the interest offered is 7.15 per cent per annum, it added.

The date of allotment for the NCDs is October 18, 2016.

In August, the cement maker had said it is looking to raise Rs 500 crore through issuance of secured redeemable NCDs on a private placement basis.

The proposed issue of Rs 500 crore debentures will be listed on with deemed date of allotment on August 22, 2016, the company had said in a regulatory filing.

The debentures will mature on August 21, 2026 and the company will offer a coupon/of 7.53 per cent per annum.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, October 14 2016. 20:58 IST